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    1023 Douglas Ave Brewton, AL 36426

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    1023 Douglas Ave Brewton, AL 36426

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    • Lifestyle centers
    • 98,361 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • DaVita Brewton Dialysis / Medical Clinic
    • Brewton Heights Shopping Center / Shopping Center & Mall
    • Brewton Career Center / State Government Office
    • The Groove / Bar & Pub
    • Gulf Medical Services LLC / Medical Clinic

    Property Details for 1023 Douglas Ave

    Property size
    98,361 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    Brewton Heights Shopping Center offers exceptional retail leasing opportunities in Escambia County, Alabama. This established shopping center boasts a total of 98,361 square feet of leasable space, with multiple tenancies available. Currently, there are 13 spaces available, ranging in size from a minimum of 350 square feet to a maximum contiguous space of 8,775 square feet. Larger spaces can be combined to accommodate a variety of business needs, with options ranging up to 26,800 square feet. The center is strategically located in Brewton, serving as the county seat and central hub, providing convenient access to a significant population base. A key advantage is the presence of 10,000 employees within a 5-mile radius, ensuring a substantial customer pool. Brewton's location, an hour north of Pensacola and Mobile, further enhances its accessibility and market reach. The city also benefits from key infrastructure including D.W. McMillan Memorial Hospital, Brewton Municipal Airport, and Jefferson Davis Community College, contributing to a robust local economy. Currently, 58,636 square feet of space is vacant, presenting a unique opportunity for businesses seeking prime retail locations in a thriving community. The property is ideal for a variety of retail uses and offers significant potential for growth and success.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Brewton
    County
    Escambia
    State
    Alabama
    Longitude
    -87.0695
    Latitude
    31.1229

    Comparable in this City

    • Value Estimation by Request
      94,564 SF

      1804 Douglas Ave

      Lifestyle centers • 94,564 SF
      1804 Douglas Ave, Brewton, AL 36426
      View Details
    • Value Estimation by Request
      30,027 SF

      2550 Douglas Ave

      Lifestyle centers • 30,027 SF
      2550 Douglas Ave, Brewton, AL 36426
      View Details
    • Value Estimation by Request
      21,525 SF

      Brewton, AL 36426

      SHOPPING CENTER, STRIP CENTER • 21,525 SF
      Brewton, AL 36426
      View Details
    • Value Estimation by Request
      13,756 SF

      712 Douglas Ave

      SHOPPING CENTER, STRIP CENTER • 13,756 SF
      712 Douglas Ave, Brewton, AL 36426-1708
      View Details
    • Value Estimation by Request
      17,238 SF

      201 Forrest Ave

      SHOPPING CENTER, STRIP CENTER • 17,238 SF
      201 Forrest Ave, East Brewton, AL 36426-2618
      View Details
    • Value Estimation by Request
      25,140 SF

      Hwy 31st N

      SHOPPING CENTER, STRIP CENTER • 25,140 SF
      Hwy 31st N, Brewton, AL 36426
      View Details

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    Similar Nearby for Lease

    • $12 SF/Yr
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      Brewton Retail Space - 3,450 SF

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    • $1,200 /Mo
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      Brewton Retail Space Available

      High-traffic shopping center location; $12/SF gross rent.
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    • $4 SF/Yr
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      Brewton Retail Space - 16,777 SF

      High-traffic retail space in thriving Brewton shopping center.
      2083 douglas brewton al avenue, Brewton, AL 36426
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    • Contact for pricing
      18,200 SF

      Former Restaurant Space For Lease

      Restaurant space with walk-in cooler available for lease.
      1600 Douglas Ave, Brewton, AL 36426
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    • Contact for pricing

      Retail Space Available For Rent

      Single tenant retail space available, approximately 7,000 square feet.
      1029 Douglas Ave, Brewton, AL 36426
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    • Contact for pricing

      Brewton Retail Space Available

      Retail spaces available, ranging from 15,300 to 26,800 SqFt.
      1804 Douglas Ave, Brewton, AL 36426
      View Details
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    1023 Douglas Ave
    Brewton, AL 36426
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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